Nvidia shares fell on Monday to snap a four-day winning streak following news that China's Huawei Technologies is developing a rival AI chip. Monitor these key chart levels.
SINGAPORE (Reuters) -Stocks and the dollar edged higher on Tuesday as U.S. President Donald Trump's administration responded to pressure from automakers and said it will soften some tariffs, ahead of a big week for economic data and earnings. The U.S. would move to reduce the impact of duties imposed on foreign parts in domestically manufactured cars, and keep tariffs on cars made abroad from stacking up on other duties, officials said. European and S&P 500 futures ticked up 0.1%, although moves were limited without meaningful relief on significant China levies.
A barrage of economic data points and Big Tech earnings are coming. From inflation to jobs data to Apple earnings, here's what's on tap for the stock market.
A group of banks including Morgan Stanley, Bank of America, Barclays and Mitsubishi UFJ sold the final piece of debt tied to billionaire Elon Musk's $44 billion buyout of social media platform Twitter, now called X, the Wall Street Journal reported on Monday, citing people familiar with the matter. The $1.2 billion of loans were sold at 98 cents on the dollar, the report added. Morgan Stanley, Barclays, Mitsubishi UFJ and X did not immediately respond to Reuters' requests for comment.
The U.S. planemaker's rating was placed on CreditWatch negative after about 33,000 of its workers went on a strike, which halted production of its best-selling jets. S&P said on Monday that Boeing appears to be on track to recover from the 2024 strike-driven production halt and persistent manufacturing quality problems.
Semiconductor testing company Teradyne (NASDAQ:TER) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 14.3% year on year to $685.7 million. The company expects next quarter’s revenue to be around $645 million, close to analysts’ estimates. Its non-GAAP profit of $0.75 per share was 21.8% above analysts’ consensus estimates.
The benchmark index won't reclaim its February all-time high in the next 12 months. Investors surveyed also see further dollar weakness ahead.
The S&P 500 edged 0.1% higher on Monday, April 28, eking out a fifth straight winning session to kick off a week of key earnings reports and economic data releases.
Along with social media giant Meta, Snap and Reddit are set to report earnings this week, offering more insights into the state of the digital advertising market.
Building materials manufacturer UFP Industries (NASDAQ:UFPI) missed Wall Street’s revenue expectations in Q1 CY2025, with sales falling 2.7% year on year to $1.60 billion. Its GAAP profit of $1.30 per share was 16.9% below analysts’ consensus estimates.